MassMutual

Allianz

American Family Insurance

AXA Group

MetLife

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience

InsurTech: Personal Lines

Policygenius offers a platform for customers to compare and purchase insurance policies from top insurance carriers, get expert advice, and manage their insurance portfolios. The company’s proprietary technology platform integrates life, home, auto, disability, and renters insurance carriers to provide an online digital experience for both consumers and carriers. The company earns its revenue through commissions, which are already built into the price of each policy.In February 2022, the company launched Policygenius Pro, a turnkey partnerships (B2B) platform that helps independent agents and financial advisors accelerate and streamline life insurance sales. It claims the platform has reduced the average time an advisor spends on an application from 2.5 hours to 15–20 minutes.In April 2023, Policygenius was <a href="https://sp-edge.com/updates/18012">acquired by Zinnia (previously SE2) </a>, a developer of insurance software solutions. Financial details of the transaction were not disclosed. Post acquisition, Policygenius will continue to operate under its own brand and offer its full range of online services. The combined entity will service more than 60 carriers, 50 distribution partners, and over 2 million policyholders.Key customers and partnershipsIn June 2022, Policygenius partnered with Impact Partnership to bring the Policygenius Pro platform to Impact’s network of financial advisors consisting of over 200 constituent firms and 2,000 advisors.Funding and financialsIn March 2022, the company raised USD 125 million in Series E funding. The company aimed to use the new funds to support the growth of its core business. Between 2014 to March 2024, Policygenius claims to have sold over USD 200 billion in insurance coverage.

Surround is a digital insurance provider that provides personalized bundled insurance targeted towards asset-light individuals. The company offers rented auto insurance, renters insurance, biking/walking insurance and professional liability insurance (for freelancers).As of January 2024, the company offered its products in 30 states in the U.S.Key customers and partnershipsIts policies are underwritten by Accredited Surety &amp; Casualty Company.Funding and financialsThe company raised <a href="https://sp-edge.com/updates/14814?industryIds=36">USD 2.5 million in seed funding</a> in November 2022, led by MassMutual through its MM Catalyst Fund, with participation from Aperture VC, Newark Venture Partners, and Cameron Ventures. It aimed to utilize the fresh funds to expand its product portfolio and its distribution footprint.

A concentration of wealth and a willingness to adopt age-in-place technologies present new opportunities.

Age Tech

CareAcademy provides online training courses, approved in all 50 states, for home caregivers, and claims to be the industry’s first mobile-friendly caregiver training platform. Its offering provides advanced reporting, portability, and a training management dashboard for caregivers. As of June 2020, CareAcademy had trained and upskilled around 110,000 caregivers with around 400,000 classes completed since its inception in 2013. In order to expand its client base and training offerings, it partnered with home care software provider AlayaCare in December 2019.In August 2020, the company launched its “Future of Work is Home Care” program, aiming to reskill 1 million new workers for the home care industry by 2023. The reskilling is targeted at millennials in light of the increasing unemployment rates owing to the Covid-19 pandemic, supporting a shift in employment towards growing markets such as home care. Key customers and partnershipsAs of June 2022, the company had delivered over 1.5 million hours of training and had been used by almost 300,000 individuals.

MeetCaregivers is an online marketplace that connects seniors with caregivers while additional senior care services include grocery delivery and transportation. The platform also pre-screens caregivers and manages payroll processing, taxes, and insurance.&nbsp;In August 2021, the company was focused on product and technology development. This included developing its “Care Portal,'' which allows caregivers and the senior’s family members to communicate. Moreover, it planned to expand operations in New England and penetrate new markets, including Massachusetts, Connecticut, New York, Rhode Island, and New Hampshire. Key customers and partnershipsAs of August 2021, MeetCaregivers had a network of over 10,000 caregivers including home health aides, certified nursing assistants, and licensed practical nurses.

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

Nth Cycle focuses on processing and recycling metal waste for recycling and mining companies. The company uses an engineering process called electro-extraction to recover critical minerals such as cobalt and nickel from discarded batteries, low-grade ores, and mine site waste. The company claims that its technology process is cleaner and a cheaper alternative to current pyrometallurgy and hydrometallurgy processes as it uses less electricity, which can be generated from 100% clean renewable power. The electro-extraction is also said to reduce greenhouse gasses by 75% compared to the current production process of critical minerals. Nth Cycle also claims that it can recover over 90% of the target critical minerals. Nth Cycle's business model involves entering into manufacturing contracts with the customers and the company’s initial target market is North America.In <a href="https://sp-edge.com/updates/16022">January 2023</a>, the company announced a premium Mixed Hydroxide Precipitate (MHP) nickel intermediary product for nickel sulfate producers, manufactured using the company's patented electro-extraction process, named "The Oyster." In July 2023, Nth Cycle commissioned a 21,000 sq ft refining facility in Fairfield, Ohio, with a capacity to produce 3,000 tons per annum.Funding and financialsIn December 2023, Nth Cycle raised USD 37 million in <a href="https://sp-edge.com/updates/24613">Series B funding</a> and an additional USD 7 million in non-dilutive financing led by VoLo Earth Ventures. The funds were to be used to commercialize Nth Cycle's initiatives by building a new partner testing facility, growing its commercial team, and expanding its headquarters.

Additive manufacturing makes objects by systematically adding material via a CAD program

Additive Manufacturing

<div>
 
 Established as a spin-off from the Massachusetts Institute of Technology (MIT), Rapid Liquid Print&nbsp; (RLP) offers large-scale 3D printers that leverage a proprietary printing process cal &ldquo;rapid liquid print.&rdquo; The process involves injecting a liquid material mixture into a gel-filled container via a nozzle to create an object in 3D space. The company claims the printing process takes minutes and requires no additional support structures to be printed. Moreover, the printed objects can reportedly be used immediately without post-processing.&nbsp;
 
 
 Key customers and partnerships
 
 
 RLP partnered with BMW to print objects like silicone rubber for seat cushions. Additionally, the company serves customers across the medical devices, footwear, home goods, furniture, aviation, and automotive components industries.
 
 
 Funding and financials
 
 
 In May 2024, RLP 
 <a href="https://sp-edge.com/updates/29262">
 raised USD 7 million
 </a>
 in a Series A funding round led by Germany&rsquo;s HZG Group to expand production and its team as well as develop more business areas.&nbsp;
 
</div>

Simplifying healthcare administration with intuitive tech tools

Hospital Management

Dock Health is a HIPAA-compliant task management and workflow automation platform designed specifically for healthcare organizations. Developed at Boston Children's Hospital, the company's software aims to streamline administrative tasks and reduce the burden on healthcare professionals, enabling them to focus on delivering quality patient care.
Dock Health's platform serves as an administrative hub, allowing clinical and administrative teams to collaborate seamlessly. It automates mundane yet essential tasks, such as managing complex workflows, tracking phone calls, emails, prior authorizations, and forms. By integrating with electronic health record (EHR) systems and other productivity solutions, Dock Health synchronizes patient data, business processes, and organizational information in a centralized location.
A key feature of Dock Health's platform is SmartFlow, a proprietary digital process mapping tool that replaces traditional paper-based flowcharts. It incorporates automations, branching logic, dependencies, and time delays, enabling healthcare organizations to optimize their workflows and enhance efficiency. In September 2023, Dock Health announced a bi-directional integration with Hint Health, a leading platform for membership-based healthcare, enabling seamless task and workflow automation between the two systems.
Dock Health's platform captures data on the processes and workforces supporting reliable and efficient patient care, providing insights into bottlenecks and inefficiencies. The company aims to leverage artificial intelligence (AI) to further enhance its workflow development capabilities and support administrative best practices within the healthcare community.

ATLAS SP Partners is a global investment firm that provides tailored solutions, industry expertise, and execution assurance on asset-backed finance and capital market activities that help businesses innovate and expand. Offer a variety of customizable solutions in asset-backed warehouse finance, forward flow and asset purchase, capital markets, and distribution services.

Empathy is a platform for families to deal with the loss of their people. Empathy combines technology and human support to provide a digital companion application built to empower bereaved families.

Genomics plc aiming to lead the genomic transformation of healthcare, to develop and apply sophisticated analyses of massive integrated genomic and phenotypic datasets to learn about human biology and reveal the human wiring diagram They will lead the way through this challenge, using their expertise and experience to unleash the potential of genomics and set the standards by which organisations and patients can benefit from genomic data.

Low Carbon is a company focused on developing and managing large-scale renewable energy projects like solar and wind farms. Their mission is to combat climate change by creating a net-zero energy future. They invest in renewable energy infrastructure, manage existing assets, and strive to minimize their environmental footprint.

Dock Health is a HIPAA compliant task management and collaboration platform designed for healthcare. The company is focused on solving some of the most pressing issues in healthcare by making communication and collaboration easier through thoughtful design and simplicity. Dock is on a mission to solve the workflow challenges and inefficiencies for clinicians and their teams. Dock Health hopes to improve patient care by giving medical teams a reliable and secure system to ensure the work gets done. Founded in 2016, Dock Health is headquartered in Boston, Massachusetts.

Onc.AI is a software that specializes in clinical oncology, genomics, proteomics, and radiomics. The company develops a comprehensive approach to oncology diagnostics and uses deep learning to derive actionable insights into oncology treatment. It was founded in 2020 by Akshay Nanduri and Salmaan Ahmed and is based in San Carlos, California, United States.

Surround Insurance is an InsurTech company that offers property and casualty insurance products for young urban professionals. The company was founded in 2018 by Jonathon Grayson and Kate Terry and is headquartered in Cambridge, Massachusetts, United States.

Special Olympics Texas is a non-profit organization that conducts sports events for children and adults with intellectual disabilities. The organization provides them with ongoing chances to improve their physical fitness, show courage, feel joy, and share their gifts, skills, and friendship with their families, other Special Olympics athletes, and the community.

CareAcademy creates online training that empowers senior care professionals to deliver the highest caliber of service and improve the lives of older adults. More than 250,000 direct care workers are learning and growing professionally through CareAcademy. Coupled with its advanced reporting, training, and compliance management dashboard, CareAcademy is an end-to-end, scalable training solution that transforms home care businesses into efficient industry leaders.

Hourwork develops a recruitment and retention platform that connects employers with hourly workers. The company is driven by a mission to build an hourly workspace that works for everyone. Its platform is used by more than 5,000 quick-service restaurant franchises across the United States.  Founded in 2018, the company is formerly known as Syrg.

Kudu Investment Management, LLC provides risk-sharing capital to asset management and wealth management firms. Kudu offers a solution for managers seeking a capital event, but who want to retain independence.

Seaspire Skincare is into manufacturing multifunctional colorants and actives influenced by the biodiversity of the ocean.

The 22 Fund is a growth equity and advisory firm focused on increasing the export capacity of Southern California companies. 22 Fund is a social impact, growth venture capital and advisory firm with a job creation mission to increase the export capacity of Southern California manufacturing companies, targeting women- and minority-owned businesses.

Greater New England Minority Supplier Development Council promotes economic inclusion and minority business development.

Paerpay helps merchants nationwide accept contactless payments without the hassle of changing point-of-sales systems, processors or requiring guests to download an app. The company was founded in 2017 and is headquartered in Boston, Massachusetts, United States.

Getty Realty is a REIT specializing in ownership, leasing & financing of a convenience store and gasoline station properties.

Nth Cycle is a metal processing technology company working with battery recyclers and miners to recover production-grade critical minerals from separated e-waste and low-grade mine tailings. Our electro-extraction technology—an alternative to hydrometallurgy and pyrometallurgy—enables customizable, clean, and consistent recovery of the critical minerals for the energy transition.

NYDIG is a technology and financial services firm dedicated to Bitcoin for institutions, private clients, and banks. The firm offers asset management, derivatives, financing, custody, and execution services. NYDIG's platform satisfies the highest regulatory, audit, and governance standards.

Rapid Liquid Print is working on 3D printers that create stretchy products for industrial materials. Their services include medical devices, footwear, home goods, furniture, aviation, and automotive components.

Goalsetter is a provider of a financial education platform for families to access educational media and tools for building wealth. The company also offers a robust suite of tools including goal-based saving with auto-save and round-ups, spart spending tools to keep kids on budget, fun and educational financial quizzes, and engaging videos. In addition to the Goalsetter App, it also offers Goalsetter Classroom, an in-classroom learning management system for K-12 schools with a teacher-led curriculum.

Halo Investing is a financial technology startup that provides an independent multi-issuer platform focused on an investment product known as Structured Notes. Structured Notes are a pre-defined outcome investment product offering downside protection, previously only available to the ultra-high net worth. Halo is empowering and democratizing access to the product by building technology to analyze, purchase, and manage the full lifecycle of the product while building efficiencies for issuing banks.

Meetcaregivers is a marketplace for senior care, intelligently matching seniors with perfect caregivers, more services, products and tools. MeetCaregivers is on a mission to provide high-quality in-home care, additional services, products, and technology tools for all seniors’ care needs. Making it easier for seniors to access all the resources they need to age healthy and happily at home.

TOP is a women-owned period care company that aims to empower women with better product choices, protecting their bodies and the environment. It offers offers organic tampons and pads that are accessible to everyone. Wherever there is toilet paper, there MUST be period products.

Testsigma is a cloud-based platform that uses artificial intelligence to help businesses automate testing for web, mobile, and API applications. It allows testers to create and run tests faster and easier, with features like natural language processing and AI-powered maintenance. Testsigma integrates with popular CI/CD tools and offers a free trial.

Ompractice is the leading provider of interactive digital wellness for B2B and B2G. Customers include many large corporates, massive health systems, and the Dept of Veterans Affairs. The platform is differentiated by its  high engagement and utilization rates, ability to build programming to target specific corporate HR/health goals, and its diverse and highly credentialed teaching team.

Policygenius is the online insurance marketplace combining cutting-edge technology with the expertise of real licensed agents to help people get the coverage they need to protect their family, property, and finances with confidence. Since 2014, we've served as a resource for millions of people on their insurance journeys, and we've placed more than $160 billion in coverage. Policygenius was founded in 2014 and has headquarters in New York, New York and Durham, North Carolina, United States.

Rothesay is an insurance company that was created specifically to protect pensions. Over 170 pension schemes and insurers, including British Airways, Post Office, ASDA, National Grid, and Aegon, rely on it to secure pensions. Rothesay is working to transform its industry. It is deeply committed to ensuring real future security, and it believes that finding new and better ways to do so is the key to its success.

Positive Coaching Alliance is a non-profit organization that strives to create a positive youth sports environment. It also provides research-based training and resources for coaches, parents, athletes, and leaders to ensure a positive youth development experience for all kids.

Digital Guardian provides the industry’s only data protection platform that is purpose-built to stop data theft from both insiders and external adversaries. The Digital Guardian Data Protection Platform performs across the corporate network, traditional endpoints, and cloud applications. It's buttressed by the DG Cloud, a big data security analytics backend that sees and blocks all threats to sensitive information. For more than 15 years, it has enabled data-rich organizations to protect their most valuable assets with a choice of on premises, SaaS or managed service deployment. Digital Guardian’s unique data awareness, combined with threat detection and response, enables organizations to protect data without slowing the pace of their business. It was founded in 2003 and is headquartered in Waltham, Massachusetts, United States.

Society of Grownups is a sort of masters program for adulthood. A place to learn how to deal with adult responsibility without losing your soul or sense of adventure along the way.

MassMutual is a mutual life insurance company that provides investment management and trust services. The company also offers life insurance, disability income insurance, long-term care insurance, executive benefits products, annuities, mutual funds, and retirement and savings products.MassMutual was established in 1851 and is headquartered in Springfield, Massachusetts.

<div> MassMutual (or Massachusetts Mutual Life Insurance Company) is a mutual life insurance provider based in Massachusetts. Founded in 1851, the company is collectively owned by its policyholders. MassMutual is the fifth-largest <a href="https://www.investopedia.com/articles/personal-finance/092915/biggest-life-insurance-companies-us.asp"> life insurance </a> company in the US, with a <a href="https://www.investopedia.com/articles/personal-finance/092915/biggest-life-insurance-companies-us.asp"> market share of 4.8 6.3 % </a> (20241). MassMutual reported revenue of USD 38 billion in 2023, of which premium income was USD 25.6 billion (~68% of total revenue). MassMutual offers a range of life insurance products as well as disability and long-term care insurance. The company also provides a range of financial products, such as annuities, investments, wealth management, and trust services.&nbsp; MassMutual operates primarily in the US but global international operations asset management services are offered through its globally subsidiary Barings by its affiliates. MassMutual plans to improve its online platform, Advisor360&deg;, and adapt to digital trends for improved customer connection. The company has also committed to achieve net zero emissions in internal operations by 2030 and across its investment portfolio by 2050. </div>

MassMutual discontinues LifeScore Labs

Startups in the automobile insurance space, predominantly providing usage-based insurance using telematics devices and/or smartphone sensors.

Startups that offer homeowners and renters insurance using artificial intelligence (AI) and smart home devices to issue policies and validate claims.

Startups that provide life insurance through digital channels personalized to an individual’s circumstances and replacing traditional practices, such as medical tests, with data-driven underwriting.

Companies that offer personal line covers for travel and pets through digital channels and use technologies such as flight tracking and online claims processing.

Providers of comparison websites and tools for carriers, agents, and insurers to compare and purchase policies.

Companies that provide personalized health insurance to consumers via digital channels and use technology such as wearable medical devices to monitor health and improve user experience and underwriting.

Companies that offer digital-only insurance for personal belongings (bicycles, mobile phones, laptops, and cameras), providing protection against theft, loss, or damage, with financial reimbursement or replacement.

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 
 MassMutual has teamed up with Genomics plc to offer a genetic risk assessment service to its policyholders. Those who are eligible can utilize a saliva test to determine their risk for eight prevalent diseases.
 Such genetic data offers insight into the chances of contracting a disease, thereby assisting patients and doctors in making informed and proactive health decisions.&nbsp;
 It's important to note that individual test outcomes are not disclosed to MassMutual and do not impact insurance policies. Initial collaboration findings suggest a strong interest among policyholders in utilizing the health risk information provided.
 
</div>

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